Tata Sons said on Sunday it is disappointed with the lack of co-operation from Japanese company Docomo in arriving at an amicable resolution to the $1.17 billion dispute.
Tata Sons said on Sunday it is disappointed with the lack of co-operation from Japanese company Docomo in arriving at an amicable resolution to the $1.17 billion dispute.
Tata Sons said its intent is to pay but within the confines of the law. “We have been disappointed with the lack of co-operation from our partner in arriving at an amicable resolution. Despite several attempts on our part, our partner has refused to come together with us to engage the government and the regulator on the issue,” said Tata Sons.
The company said that “position Tata Sons has taken in its affidavit filed in the Delhi High Court is in line with what we have stated from the outset — that Tata Sons is committed to honouring our contractual obligations to NTT Docomo, in compliance with Indian regulations and law.”
Tata said that there is a judicial process that is underway and “we need to pay due heed to the laws that bind us all.
“Docomo is unfortunately confusing our intent to pay with what is legally payable by us. Tata’s intent is to pay but within the confines of the law,” said Tata Sons.
Tata Sons on Friday filed an appeal in the Delhi High Court to stop the enforcement of an arbitration award by the London Court of International Arbitration (LCIA).
LCIA had ruled in favour of Docomo in its dispute with the Tatas over its exit from Tata Teleservices at a pre-determined price for its stake.
